Gov. Schwarzenegger orders more cuts to reduce state’s big deficit

Posted on February 19, 2008
Filed Under Public Policy |

Those proposals will likely resurface in coming weeks and months as Schwarzenegger and the Legislature hammer out a more than $140 billion spending plan for the next fiscal year, which begins July 1.

[From Gov. Schwarzenegger orders more cuts to reduce state's big deficit]

Build your own California budget, I did and in 2011/12 I generate a $6 billion surplus by cutting some taxes, slowing the rate of spending increases and simply not doing things that the state should not being doing in the first place, like taxing carbon.

Actually on the tax front I did increase personal income taxes for my own tax bracket, which illustrates a basic point that Sacramento consistently fails to grasp: I am willing to pay more taxes but only if the proceeds are used responsibly, if the additional revenue that is being generated from me is used to simply drive more spending, then no dice.

Lastly, what the hell is wrong with politicians in Sacramento when they casually throw around billion dollar numbers funded by YOU. In 1999 the State of California had an $82 billion dollar budget, in 2000 it rose 21% to over $100 billion and led to the recall of then Governor Davis, but under Guvernator Schwarzenegger the State of California has seen it’s budget increase to $140 billion of your tax dollars and again slip into the red by $14 billion.

So let’s put this into a different perspective: despite record revenues of $126 billion (forecast) that eclipses by a wide margin the entire budget that Schwarzenegger inherited, the Governor and the Legislature cannot now put forward a balanced proposal that meets the state’s obligations with the already considerable revenues the state’s residents are providing to them.

And Perata, Nunez, the California Teachers Association, and the American Federation of State, County, and Municipal Employees wonder why modified term limits didn’t pass voter scrutiny.


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